Good grief! SLV now holds over 7500 tonnes of silver bullion, or so they say. That's tonnes, not ounces. Where in the world does SLV (as well as GLD) buy their metal? Everytime I turn around, it seems, these ETF's are buying tonnes of the stuff.

Must be London, since it's bullion. I suspect if I were to buy 77 tonnes (fat chance), as SLV did in the past day or so, on the COMEX, the price would probably be well on its way to the moon. I guess the COMEX must be glad these ETF's don't mess with the futures. Just wondering.

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LONDON, Feb 4 (Reuters) - The world's largest silver-backed exchange-traded fund, the iShares Silver Trust SLV.A, said its bullion holdings rose a further 77 tonnes or 1 percent on Feb 3.

The New York-based trust, which issues securities backed by physical stocks of silver, now holds a record 7,530.2 tonnes of bullion, up 737 tonnes or 11 percent since Jan 2. (Reporting by Jan Harvey; Editing by James Jukwey)